Pension Transfer Quotes

After the New Deal, economists began referring to America’s retirement-finance model as a “three-legged stool.” This sturdy tripod was composed of Social Security, private pensions, and combined investments and savings. In recent years, of course, two of those legs have been kicked out. Many Americans saw their assets destroyed by the Great Recession; even before the economic collapse, many had been saving less and less. And since the 1980s, employers have been replacing defined-benefit pensions that are funded by employers and guarantee a monthly sum in perpetuity with 401(k) plans, which often rely on employee contributions and can run dry before death. Marketed as instruments of financial liberation that would allow workers to make their own investment choices, 401(k)s were part of a larger cultural drift in America away from shared responsibilities toward a more precarious individualism. Translation: 401(k)s are vastly cheaper for companies than pension plans. “Over the last generation, we have witnessed a massive transfer of economic risk from broad structures of insurance, including those sponsored by the corporate sector as well as by government, onto the fragile balance sheets of American families,” Yale political scientist Jacob S. Hacker writes in his book The Great Risk Shift. The overarching message: “You are on your own.

I watched relationships begin and end across those tables, children transferred between divorcees, the guilty relief of those parents who couldn’t face cooking, and the secret pleasure of pensioners at a fried breakfast. All human life came through, and most of them shared a few words with me, trading jokes or comments over the mugs of steaming tea

Student indebtedness expemplifies neoliberalismś strategy since the 1970s: the substitution of social rights (the right to education, health care, retirement, etc.) for access to credit, in other words, for the right to contract debt. No more pooling of pensions, instead individual investment in pension funds; no pay rises, instead consumer credit; no universal insurance, individual insurance; no right to housing, home loans. The individualization process established through social policies has brought about radical changes in the welfare state. Education spending, left entirely to students, frees up resources which the state quickly transfers to corporations and the wealthiest households, notably through lower taxes. The true welfare recipients are no longer the poor, the unemployed, the sick, unmarried women, and so on, but corporations and rich.

Ambedkar envisaged Partition as a complete territorial separation of Hindus and Muslims, implying an exchange of population between truncated India and Pakistan. He had worked this out in detail, with blueprints for the transfer of pension rights and property rights. It is quite likely that the implementation of his plan for an orderly division, with an orderly exchange of population, would have saved hundreds of thousands of lives. By contrast, Gandhi’s and Nehru’s refusal of this exchange, effectively sacrificing the Hindus in Pakistan to the dogma of Hindu-Muslim unity, made them responsible for the deaths of hundreds of thousands of innocent people.

Americans are devoting more of their income to housing, health care and personal insurance and pensions since 1984. After adjusting for inflation, their average annual expenses have risen 6 percent to $51,105 during that period. Their earnings have largely been flat for three decades — increasing only when factoring in government “transfers” such as tax cuts and Social Security checks.

The Economist has produced a more sophisticated set of ‘back-of-the-envelope’ estimates in an interactive basic income calculator for all OECD countries.4 This purports to show how much could be paid as a basic income by switching spending on non-health transfers, leaving tax revenues and other public spending unchanged. Interestingly, even on this very restrictive basis, a cluster of seven west European countries could already pay over $10,000 per person per year. The United States could pay $6,300 and Britain $5,800. Obviously, for most countries, the level of basic income that could be financed from this tax-neutral welfare-switching exercise would be modest – though, especially for bottom-ranked countries such as South Korea ($2,200) or Mexico (only $900), this largely reflects their current low tax take and welfare spending. The Economist’s interactive calculator also aims to calculate what tax rises would be needed to pay a basic income of a given amount. For the UK, the calculator estimates that the cost of a basic income of one-third average GDP per head would require a 15 percentage point rise in tax take. Its calculations can again be questioned in their own terms. However, all these back-of-the-envelope exercises are flawed in more fundamental ways. First, they do not allow for clawing the basic income back in tax from higher-income earners, which could be done with no net cost to the affluent or to the Exchequer, simply by tweaking tax rates and allowances so that the extra tax take equals the basic income paid. Second, they do not take account of administrative savings from removal of means testing and behaviour conditions. Administration accounted for £8 billion of the £172 billion 2013–14 budget of the UK’s Department of Work and Pensions, much of which will have gone to pay staff in local job centres to monitor and sanction benefit recipients. This does not include hundreds of millions of pounds paid to private contractors to carry out so-called ‘work assessment’ tests on people with disabilities, which have led to denial of benefits to some of society’s most vulnerable people. Third, they compare the cost of a basic income with the existing welfare budget and assume that all other areas of public spending remain intact. Yet governments can always choose to realign spending priorities. The UK government could save billions by scrapping the plan to replace the Trident nuclear missile system, now estimated to cost more than £200 billion over its lifetime. It could save further billions by ending subsidies that go predominantly to corporations and the affluent.

The first basic income pilot in a developing country was implemented in the small Namibian village of Otjivero-Omitara in 2008–9, covering about 1,000 people.40 The study was carried out by the Namibian Basic Income Grant Coalition, with money raised from foundations and individual donations. Everyone in the village, including children but excluding over-sixties already receiving a social pension, was given a very small basic income of N$100 a month (worth US$12 at the time or about a third of the poverty line), and the outcomes compared with the previous situation. The results included better nutrition, particularly among children, improved health and greater use of the local primary healthcare centre, higher school attendance, increased economic activity and enhanced women’s status.41 The methodology would not have satisfied those favouring randomized control trials that were coming into vogue at the time. No control village was chosen to allow for the effects of external factors, in the country or economy, because those directing the pilot felt it was immoral to impose demands, in the form of lengthy surveys, on people who were being denied the benefit of the basic income grants. However, there were no reported changes in policy or outside interventions during the period covered by the pilot, and confidence in the results is justified both by the observed behaviour, and by recipients’ opinions in successive surveys. School attendance went up sharply, though there was no pressure on parents to send their children to school. The dynamics were revealing. Although the primary school was a state school, parents were required to pay a small fee for each child. Before the pilot, registration and attendance were low, and the school had too little income from fees to pay for basics, which made the school unattractive and lowered teachers’ morale. Once the cash transfers started, parents had enough money to pay school fees, and teachers had money to buy paper, pens, books, posters, paints and brushes, making the school more attractive to parents and children and raising the morale and, probably, the capacity of its teachers. There was also a substantial fall in petty economic crime such as stealing vegetables and killing small livestock for food. This encouraged villagers to plant more vegetables, buy more fertilizer and rear more livestock. These dynamic community-wide economic effects are usually overlooked in conventional evaluations, and would not be spotted if cash was given only to a random selection of individuals or households and evaluated as a randomized control trial. Another outcome, unplanned and unanticipated, was that villagers voluntarily set up a Basic Income Advisory Committee, led by the local primary school teacher and the village nurse, to advise people on how to spend or save their basic income money. The universal basic income thus induced collective action, and there was no doubt that this community activism increased the effectiveness of the basic incomes.

Net wages: “It’s not what you make, but what you net” after paying the FIRE sector, basic utilities and taxes. The usual measure of disposable personal income (DPI) refers to how much employees take home after income-tax withholding (designed in part by Milton Friedman during World War II) and over 15% for FICA (Federal Insurance Contributions Act) to produce a budget surplus for Social Security and health care (half of which are paid by the employer). This forced saving is lent to the U.S. Treasury, enabling it to cut taxes on the higher income brackets. Also deducted from paychecks may be employee withholding for private health insurance and pensions. What is left is by no means freely available for discretionary spending. Wage earners have to pay a monthly financial and real estate “nut” off the top, headed by mortgage debt or rent to the landlord, plus credit card debt, student loans and other bank loans. Electricity, gas and phone bills must be paid, often by automatic bank transfer – and usually cable TV and Internet service as well. If these utility bills are not paid, banks increase the interest rate owed on credit card debt (typically to 29%). Not much is left to spend on goods and services after paying the FIRE sector and basic monopolies, so it is no wonder that markets are shrinking. (See Hudson Bubble Model later in this book.) A similar set of subtrahends occurs with net corporate cash flow (see ebitda). After paying interest and dividends – and using about half their revenue for stock buybacks – not much is left for capital investment in new plant and equipment, research or development to expand production.

Last year’s Boeing contract in Washington State saw members of the International Association of Machinists vote down a contract that would transfer their pensions to a 401k plan and increase their healthcare costs with minimal raises over eight years. “Because of the massive takeaways,” Local 751 President Thomas Wroblewski told his members, “the union is adamantly recommending members reject this offer.” After the members voted down the contract by 67 percent, Washington State found $8.5 billion in tax breaks for the company and International President Thomas Buffenbarger stepped in to carry this corporate sweetheart deal through the last mile. With Boeing threatening to move the assembly of the new 777X passenger jet to another state, the International demanded a re-vote and the intimidated membership agreed to the same deal they previously rejected. The collusion of a multinational corporation and the state in transferring billions of dollars of wealth from working-class people into the hands of the rich could hardly have been possible in this case without the assistance of the International leadership. Boeing workers got to keep their jobs—but the fight that they may have been prepared to have with their employer was swiftly shut down.

Flexible benefits are just becoming an option for some workers. But more creativity is needed to take benefits to their natural end in organizations looking for self-determination and self-management. Employees should be able to customize their health plans, pension fund contributions, insurance, meal tickets, and even health club or collective purchasing programs. By letting the employees make their own calculations and freely choose their own health benefits, we transfer responsibility to our people. We hand them their freedom.

And so it was that politicians used to quibbling over a few million euros to be spent on pensioners, health or education gave their governments carte blanche to transfer hundreds of billions to bankers hitherto awash with liquidity. “Solidarity with bankers” helped Germany’s and France’s banks survive the collapse of their foolish derivative trades. However, another calamity beckoned: the remaining loans that bankers, like Franz, had granted to the deficit regions of the eurozone were sizeable enough to bankrupt those nations if stressed Irish, Spanish, Greek banks were to default. Before the ink of their own bailout agreements had dried, a second bank bailout was in progress: a bailout for the bankers of deficit countries whose governments could not afford to rescue them.

The patient only apparently fights for compensation for the stiffened wrist, for the shot-off finger, for his neurotic trouble. It is quite overlooked as a rule that the neurotic inwardly perceives the alteration which has taken place as regards his sexual hunger (libido). He is filled with the feeling of an enormous injury. And he is so far right when he actually has suffered loss from his capability for transference of his sexual hunger (libido) and therewith an important basis of the belief in himself. [...] The pension compensates only for the diminution of the capacity for earning a livelihood, so far as this is objectively demonstrable, not for that which the patient subjectively feels; he cannot be compensated for his reduced capacity for object-love. Narcissism also explains here the conduct of the patients. Where previously the capability of surrender (in every sense of the word) existed, now the narcissistic avarice dominates.

WhatsApp info: +12 (72332)—8343 After retiring from a long and disciplined career in government service, I began searching for ways to grow my pension responsibly. With interest rates low and inflation quietly eroding my savings, I started researching alternative investments, and that led me to the world of digital assets. One day, I was contacted on LinkedIn by someone who claimed to be a licensed cryptocurrency wealth advisor. His profile appeared legitimate: professional photo, detailed work history, glowing reviews, and even charts showcasing past client success. He explained a “low-risk” opportunity involving USDC, a stablecoin pegged to the US dollar. According to him, retirees like myself could safely double their investment within six months through his platform. His tone was calm, confident, and reassuring. I truly believed I was making a well-informed decision. After a few conversations, I transferred $180,000 worth of USDC into what I thought was a secure investment portfolio. At first, everything seemed fine, he sent periodic updates and screenshots showing how my funds were growing. But then, things started to change. The updates stopped. My messages were ignored. Eventually, his phone number went dead and his LinkedIn account vanished. That’s when the reality hit: I had been scammed. The sense of betrayal was intense. I couldn’t believe I had fallen for it. I felt ashamed, anxious, and deeply hurt, especially knowing how long it took me to save that money. I shared my story with my pastor, who listened without judgment. He immediately began searching for help and came across a cybersecurity firm called Adware Recovery Specialist. From the moment they got involved, their team showed true professionalism, empathy, and expertise. They never made me feel foolish or blamed me for what had happened. Instead, they took the time to understand the situation, carefully reviewed the transaction data, and began tracing the digital trail. To my amazement, within just two weeks, Adware Recovery Specialist was able to recover $129,000 of my stolen USDC. I was overwhelmed, not just by the recovery itself, but by the care and integrity they showed throughout the process. They didn’t just restore my funds, they restored my peace of mind. While not all of my savings could be recovered, regaining the majority of it gave me hope and a second chance at financial stability. I’m incredibly grateful for the work Adware Recovery Specialist did on my behalf. Their dedication reminded me that even in the darkest moments, there are still people out there who genuinely want to help.

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After retiring from a long and disciplined career in government service I began exploring ways to grow my pension through strategic investments. Traditional savings offered minimal yields and with inflation gradually eroding the value of money I turned my attention to the digital asset space. I believed I was approaching the opportunity with due diligence and caution. One day I was contacted on LinkedIn by a man who introduced himself as a licensed cryptocurrency wealth advisor. His profile was polished and professional complete with industry charts client reviews and impressive claims. He spoke with confidence and offered what seemed like a compelling low-risk opportunity to invest in USDC a stablecoin pegged to the US dollar. According to him I could potentially double my investment within six months. He claimed to work specifically with retirees and assured me my funds would be carefully managed and protected. Reassured by his manner and presentation I ultimately transferred 180000 dollars worth of USDC into what I believed was a secure portfolio. He remained communicative providing occasional updates and reports. However as time passed those updates stopped. Then his phone number became unreachable and his LinkedIn account vanished. The truth hit me hard. I had been defrauded. The sense of betrayal was overwhelming. I was consumed by shame anxiety and regret. I confided in my pastor who has been a longstanding source of guidance in my life. Rather than judge he offered empathy and immediately took initiative. Within days he discovered a cybersecurity firm called PROFICIENT EXPERT CONSULTANT and contacted them via Procicientexpert@consultant.com. From the outset their team demonstrated unwavering professionalism technical expertise and compassion. They never dismissed my concerns or made me feel foolish. Instead they patiently gathered transaction details assessed the blockchain activity and launched a full scale investigation. In less than two weeks they achieved what I had believed impossible. They successfully traced the digital trail and recovered 129000 dollars worth of USDC. I was overwhelmed by gratitude. Although a portion of my savings remained lost the majority had been reclaimed and with it a sense of hope and stability. PROFICIENT EXPERT CONSULTANT did far more than retrieve stolen funds. They restored my sense of security and reminded me that integrity still exists in this world. Their support gave me a second chance at retirement and I remain deeply thankful for their integrity.

Understanding Personal and Business Accounts: What You Need to Know When managing finances, distinguishing between personal and business accounts is crucial for financial organization, compliance, and growth. Whether you're an entrepreneur, freelancer, or individual looking to streamline your financial dealings, understanding the differences and benefits of each type of account can save you time and money. This article delves into personal and business accounts, their features, and why separating them is vital. ➥24 Hours Reply/Contact ✅Telegram:@SMMTOPSHOPIT ✅WhatsApp:+1(575)248-0302 ✅Email:SMMTOPSHOPIT@Gmail.Com What Are Personal Accounts? A personal account is designed for individual use, allowing you to manage your day-to-day financial transactions. It is often used for: Receiving income, such as salaries or pensions. Paying for personal expenses, such as groceries, rent, or entertainment. Savings and investments. Key Features of Personal Accounts: Ease of Access: Personal accounts are user-friendly and come with tools like debit cards, online banking, and mobile apps for quick access. Lower Fees: Generally, personal accounts have lower fees compared to business accounts. Basic Functionality: They focus on straightforward financial needs such as deposits, withdrawals, and transfers.

➥24 Hours Reply/Contact ✅Telegram:@SMMTOPSHOPIT ✅WhatsApp:+1(575)248-0302 ✅Email:SMMTOPSHOPIT@Gmail.Com What Are Personal Accounts? A personal account is designed for individual use, allowing you to manage your day-to-day financial transactions. It is often used for: Receiving income, such as salaries or pensions. Paying for personal expenses, such as groceries, rent, or entertainment. Savings and investments. Key Features of Personal Accounts: Ease of Access: Personal accounts are user-friendly and come with tools like debit cards, online banking, and mobile apps for quick access. Lower Fees: Generally, personal accounts have lower fees compared to business accounts. Basic Functionality: They focus on straightforward financial needs such as deposits, withdrawals, and transfers. What Are Business Accounts? A business account is tailored for companies or individuals conducting business activities. It’s used for: Managing business income and expenses. Paying employees and vendors. Establishing credit lines and loans. Key Features of Business Accounts: Enhanced Functionality: Business accounts offer features like invoicing, payroll management, and merchant services. Tax Benefits: They simplify tax reporting by separating personal and business transactions, making deductions easier to track. Professional Image: Using a business account demonstrates professionalism to clients and partners. Access to Credit: Many business accounts come with options for business credit cards or loans. Why Separate Personal and Business Accounts? Keeping personal and business finances separate is not just a best practice; it’s often a legal requirement. Here’s why: